American Well (NYSE:AMWL) Given New $10.00 Price Target at Stifel Nicolaus

American Well (NYSE:AMWL) had its price objective increased by Stifel Nicolaus from $9.00 to $10.00 in a research note published on Thursday,Benzinga reports. Stifel Nicolaus currently has a hold rating on the stock.

Other research analysts have also recently issued research reports about the stock. Morgan Stanley reduced their price target on shares of American Well from $20.00 to $10.50 and set an “equal weight” rating for the company in a report on Tuesday, December 17th. Wells Fargo & Company raised shares of American Well from an “equal weight” rating to an “overweight” rating and set a $15.00 target price for the company in a research note on Monday, January 13th. Finally, Needham & Company LLC reissued a “hold” rating on shares of American Well in a research note on Thursday. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $11.88.

American Well Trading Down 5.1 %

NYSE:AMWL opened at $11.73 on Thursday. American Well has a 1 year low of $5.00 and a 1 year high of $29.00. The stock has a 50-day moving average price of $9.21 and a two-hundred day moving average price of $9.12. The stock has a market cap of $179.63 million, a price-to-earnings ratio of -0.80 and a beta of 1.18.

American Well (NYSE:AMWL) last released its quarterly earnings data on Wednesday, February 12th. The company reported ($2.77) earnings per share for the quarter, beating the consensus estimate of ($3.04) by $0.27. American Well had a negative return on equity of 52.49% and a negative net margin of 84.27%. Sell-side analysts forecast that American Well will post -13.38 earnings per share for the current year.

Institutional Trading of American Well

A number of hedge funds and other institutional investors have recently made changes to their positions in AMWL. Cubist Systematic Strategies LLC boosted its holdings in American Well by 7,673.8% during the second quarter. Cubist Systematic Strategies LLC now owns 184,083 shares of the company’s stock worth $60,000 after purchasing an additional 181,715 shares during the last quarter. BNP Paribas Financial Markets bought a new stake in American Well during the 3rd quarter worth about $95,000. Walleye Capital LLC acquired a new position in shares of American Well during the 3rd quarter worth about $167,000. PDT Partners LLC acquired a new position in shares of American Well during the 3rd quarter worth about $107,000. Finally, HighTower Advisors LLC bought a new position in shares of American Well in the 3rd quarter valued at about $355,000. 56.05% of the stock is currently owned by institutional investors and hedge funds.

American Well Company Profile

American Well Corporation, an enterprise platform and software company, delivers digitally enabling hybrid care in the United States and internationally. The company offers Converge, a cloud-based platform that enables health providers, payers, and innovators to provide in-person, virtual and automated care; and delivers virtual primary care, post-discharge follow-up, chronic condition management, virtual nursing, e-sitting, on-demand and scheduled virtual visits, specialty consults, automated care, and behavioral health, as well as specialty care programs, including dermatology, musculoskeletal care, second opinion, and cardiometabolic care to patients and members.